Somalia pirates free MV Panama after $7 mln ransom paid

MOGADISHU Tue Sep 6, 2011 6:59pm IST

Related Topics

Election 2014

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

MOGADISHU (Reuters) - Somali pirates freed the Liberian-flagged container ship MV PANAMA seized last December after receiving a $7 million ransom on Tuesday, pirates holding the ship told Reuters.

The vessel was hijacked on Dec. 10 en route from Tanzania to Mozambique with a crew of 23 from Myanmar.

"We received the agreed ransom of $7 million early in the morning after long negotiations. Now we have abandoned the ship and it is sailing away safely," a pirate who gave his name as Abdi told Reuters.

Somali piracy is estimated to cost the world economy billions of dollars a year and international navies struggle to combat the menace, especially in the Indian Ocean due to the vast distances involved. The shipping industry has warned that seaborne gangs pose an increasing threat to vital sea lanes.

The pirates are becoming increasingly violent and are able to stay out at sea for long periods using captured merchant vessels as mother ships.

(Reporting by Mohamed Ahmed; Editing by David Clarke)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Obama On Tour

REUTERS SHOWCASE

Boat Tragedy

Boat Tragedy

Empty spaces mark Korean school tribute for missing ferry victims.  Full Article 

Ukraine Crisis

Ukraine Crisis

Ukraine forces kill up to five rebels; Russia starts drill near border.  Full Article 

Animal Protection

Animal Protection

China to outlaw eating of protected animal species.  Full Article 

Lost Plane Search

Lost Plane Search

Search for missing Malaysian jet likely to take years - U.S. official.  Full Article 

Chequered Past

Chequered Past

From God.com to photography, Korea ferry founder has diverse interests .  Full Article 

FB Newswire

FB Newswire

Facebook courts journalists with newswire tool.  Full Article 

Mideast Politics

Mideast Politics

Israel suspends peace talks after Palestinian unity bid.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage